VAT ON CHARTERS

Italian Tax Revenue Office (Agenzia Delle Entrate) has decreed to implement VAT on charters. The charter of yachts within Italian Waters that are registered as Commercial Vessels and are used exclusively on “Charter” (Short-Term Hiring of a Yacht, not exceeding 90 days) cannot legally be exempt from the VAT.

By using a combination of rules the VAT on charter yachts above 24 MT LOA will normally be 6.6% of the total charter fees. In order to comply with the legislation, Owning Companies must be registered for VAT in Italy or appoint a Fiscal Representative in Italy to manage the tax on their behalf as per DPR 633/72 Art.17. In both cases the opening of a VAT position is required.
The appointment of a VAT / Fiscal Representative or the direct identification became obligatory starting by year 2011 as per Circular 43/E – September 29th 2011.

YACHT WELFARE is suitably structured to fulfill the VAT task on your behalf and to shoulder every responsibility to comply with the Italian law. If you need more info and to appoint YACHT WELFARE as your Fiscal Representative for Italy please send us an email at info@yachtwelfare.it. You will be provided with a copy of the Contract Agreement and the required Annexes to obtain your IT Fiscal Code and comply with the Italian laws and regulations.

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Fiscal representative

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If any of the ship's owner company's Directors sign the mandate for the appointment of the Fiscal Representative please provide a valid POA in favor of the signatory ( yacht's captain, manager, etc. ). You can upload a copy of your POA in the Upload Centre below. If required a template of valid POA will be made available for the client.

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